Call Toll Free +1 855-856-TIPS
UNITED STATES OF AMERICA — The US Department of Energy (DOE) stated today that it will invest up to $20 million to reduce the cost of creating geothermal energy by showing faster drilling technology that will reduce the overall time, labor and costs required to create geothermal projects.
DOE is aiming to significantly reduce the cost of geothermal drilling — which can account for more than half of the entire cost of a project. The drilling demonstration projects will encourage additional investment in geothermal energy, which can be a crucial source of zero-carbon energy that is available year-round.
This project furthers President Biden’s goal of assisting fossil energy towns in modernizing their energy infrastructure in order to spur innovation and economic growth in developing zero-carbon businesses.
The Drilling Demos initiative, led by DOE’s Geothermal Technology Office (GTO), builds on DOE advances in geothermal drilling technologies that reduce drilling time and increase penetration rates in the laboratory. Demonstrations conducted as part of this new project will expedite the transfer of geothermal drilling innovations from the laboratory to the market.
The GTO is accepting applications from drilling service providers, well service companies, research institutions, geothermal operators and developers, and other organizations that can provide practical, immediate solutions to the goal of increasing the average daily drilling penetration rate for geothermal wells.
Entities — both commercial and government-funded — that have effective control over access and operations are encouraged to apply.
To connect with potential team members, join GTO’s Drilling Demos Teaming Partner List.
Letters of intent must be submitted by April 4, and complete applications must be submitted by June 3.
“There is incredible, untapped potential to use the heat beneath our feet to meet our energy demands with a renewable source that can be found in all pockets of this country,” said U.S. Secretary of Energy Jennifer M. Granholm. “Not only is the use of geothermal energy a significant asset for reaching a carbon-free grid by 2035, it can drive the creation of good paying jobs in energy communities as the country transitions to cleaner, more reliable energy sources.”
WATCH: Deputy Assistant Secretary for Renewable Power Alejandro Moreno explains the process for geothermal drilling and how the Drilling Demos initiative will streamline it.